Buy Property or Build Property

[Gabriella Borukhov]

Hello everybody, 

I am looking into buying quadplex property in a vacation area that I frequent however, there is a lack of properties and an excess of land. I am thinking about building a new 4plex however, I am unsure if this is the right decision since I am a beginner in the field. What are your opinions on building rather than buying? 

[Steven Foster Wilson]

Originally posted by @Gabriella Borukhov:

Hello everybody, 

I am looking into buying quadplex property in a vacation area that I frequent however, there is a lack of properties and an excess of land. I am thinking about building a new 4plex however, I am unsure if this is the right decision since I am a beginner in the field. What are your opinions on building rather than buying? 

 Ive always heard that you should not consider building unless you can sell for more then $200 more per sqft then it costs to build. So where Im at in Columbus you can build for about $150/sqft, so unless the area would justify a sale price of $350/sqft, move onto the next.